Carnival Corporation (NYSE:CCL) Bookings Strong Over Last 3 Months

Carnival Corporation (NYSE:CCL) and others in the cruise industry have been enjoying strong bookings over the last three months, and are optimisitic about the year ahead.

Barclays (NYSE:BCS) said, "Carnival's optimistic outlook underscores our bullish view on the cruise industry. Consistent with the conversations we have been having with travel agents, management noted that bookings completed during the last three months for 1Q11 through 3Q11 have been strong, with local currency ticket pricing up year over year.

"Our FY2011 EPS estimate goes to $3.05 from $2.90 driven by a higher net yield forecast of 4.5%, up from 3.0% previously ex FX. In constant dollars, we forecast net yield growth of 4%. Our FY2012 EPS estimate goes to $3.65 from $3.47, which reflects a net yield increase of 4.5%, up slightly from 4%."

Barclays maintains an "Overweight" on Carnival Corporation, which was trading at $47.15, up $1.97, or 4.36 percent, as of 12:43 PM EST. Barclays raised their price target on Carnival from $52 to $55.